The rupee touched the record low level against dollar in the interbank market on Wednesday, losing 35 paisa for buying at Rs 77.30 and it also lost 40 paisa for selling 77.40, dealers said. During the day, the rupee touched the record low at 77.55 due to import payments, weak economic fundamentals and concern over tensions between Pakistan and the United States, they said.
The tension was high as a result of the US military action against militant targets in Pakistani territory, they added. The outlook is still bleak due to the political developments this week and depleting reserves, they said. There were also talks in the market that the rupee had touched 78 level but it could not be confirmed, they added. In the third Asian trading dollar advanced against yen after the Federal Reserve rescued insurer American International Group, easing fears about a financial system crisis. The Fed said it would lend up to $85 billion to AIG, once the largest insurer in the world, in a two-year plan aimed at saving it from a 'disorderly failure' that could damage the global economy.
OPEN MARKET RATES: The rupee continued its slide against dollar, falling 30 paisa for buying and selling at 77.00 and 77.30, dealers said. The rupee, however, moved both ways in relation to the euro, rising 10 paisa for buying at Rs 108.50 while it lost 25 paisa for selling at Rs 109.30, dealers said.
================================
Open Buying Rs 77.00
Open Selling Rs 77.30
================================
Interbank Closing Rates: Interbank Closing Rates For Dollar On Wednesday.
==============================
Buying Rs 77.30
Selling Rs 77.40
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 12.90 12.90 12.90 12.90 12.90
1-Week 12.40 12.60 12.60 12.75 12.59
2-Week 12.25 12.50 12.40 12.60 12.44
1-Month 12.25 12.40 12.40 12.50 12.39
2-Months 12.25 12.40 12.35 12.50 12.38
3-Months 12.25 12.40 12.35 12.50 12.38
4-Months 12.25 12.45 12.40 12.55 12.41
5-Months 12.25 12.50 12.40 12.60 12.44
6-Months 12.30 12.50 12.45 12.60 12.46
9-Months 12.35 12.55 12.50 12.65 12.51
1-Year 12.40 12.60 12.50 12.70 12.55
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 14.00 18.00 15.00 17.50 16.13
1-Week 13.50 16.00 14.00 16.50 15.00
2-Week 13.50 15.50 14.00 16.00 14.75
1-Month 13.50 15.00 14.00 15.50 14.50
2-Months 13.50 15.00 14.00 15.50 14.50
3-Months 13.50 15.00 14.00 15.50 14.50
4-Months 13.50 15.00 13.75 15.50 14.44
5-Months 13.50 15.25 14.00 15.75 14.63
6-Months 13.50 15.25 14.00 15.75 14.63
9-Months 13.75 15.50 14.50 16.00 14.94
1-Year 13.75 15.50 14.50 16.00 14.94
=================================================================
RUPEE IN LAHORE: The rupee lost 10 paisa on buying side and 20 paisa on selling side in relation to dollar in Lahore currency market on Wednesday. The dollar resumed trading at Rs 76.95 and Rs 77.40 as its buying and selling rates, respectively. As a result of fresh demand, the dollar showed strength and closed higher at Rs 77.00 and Rs 77.50 against overnight closing of Rs 76.90 and Rs 77.30, respectively. However, the rupee showed stability and remained unchanged on buying side against pound sterling but lost its worth on selling side. The pound was purchased and sold at Rs 137.50 and Rs 138.50 as compared to Tuesday closing of Rs 137.50 and Rs 138.00, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar was higher by 30 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi on Wednesday. The dollar opened at Rs 77.10 (buying) and Rs 77.20 (selling) against overnight rate of Rs 76.80 (buying) and Rs 76.90 (selling)There was no change in the evening session and closing was seen at Rs 77.10 (buying) and Rs 77.20 (selling). Pound Sterling opened at Rs 137.50 (buying) and Rs 138 (selling) against Tuesday's closing rate of Rs 137 (buying) and Rs 137.50 (selling). It did not change in the last trading hours and closed at Rs 137.50 (buying) and Rs 138 (selling).
Comments
Comments are closed.